Dearest Friend!
Why should we not do a little business? You know that hitherto I have not been able to demand anything from Härtel's for the publication of my Nibelungs, save a declaration of their readiness to take the responsibility of publication, with the offer to share with me the profits accruing from sales. Six months ago I tendered the Grand Duke of Weimar the profits from the copyright of the scores to be published; for each score he was to pay me what Härtel's conceded me for Tristan and, on his part, to appropriate my rights in a share of the profits on the publication. To this I got a higgling, evasive reply (which Liszt attributed to Dingelstedt's influence) and I let the matter rest.
Nevertheless it is so important for me to raise money on these scores at once if I can, and my inclination to finish the whole so much depends on the encouragement derived from the interest of others in this work, that, in my present happy and confident frame of mind, the idea has occurred to me to make you the proffer rejected by Weimar.
Let me forthwith adduce in brief what is to be said for the thing on its merits—leaving aside all those friendly considerations on which alone, of course, the whole transaction would actually rest. As soon as the operas were performed and the possibility of wider publicity became apparent, Härtel's would instantly give me the required honorarium for the publication. You cannot be expected, purely as a business man, to make light of the many difficulties which stand in the way of such an issue, and yet I know for certain that I shall overcome them, and the ensuing production of Tristan is the first step in that direction. I shall do with this work exactly as I have done with the others. I shall pay the utmost attention to making a success of the first performance, but after that, without troubling myself further, I shall leave the matter confidently to the theatres, which will presumably begin with the more popular pieces, such as Young Siegfried, and gradually arrange for the others, a process which will be expedited by the intensely national subject-matter. Quite apart, however, from this subsequent dissemination, a first performance is not to be thought of except under conditions which will draw the interest of the whole world upon the work in such a degree that the success, and consequently the sales, of the publication are bound to be out of all proportion to anything previously seen in this domain.
Moreover, in work such as this, I am thinking very little of the present and appealing (assuredly with more right than any of my predecessors) to the next generation and to posterity, so that had I children, and were my means such as to allow it, I would most certainly refuse to part with this work except on condition of getting a share in the proceeds. If I surrender my rights in it to another, who has both means to enable him to await gradual and perhaps tardy returns, and heirs to whom these returns may some day be beneficial, I believe that I do so upon a right estimate of my own position in relation to that of that hypothetical other. Moreover, I can direct that other's attention to the chances offered in the long run by copyright in such works; I noticed recently, that the fortune left by Schiller to his heirs consisted solely in the continued proceeds from his works and that these heirs enjoy a handsome income from them to-day.
Such are the considerations which have induced me (even while pointing out to you the benefits contained in this suggestion for myself) to insist that it is a real bargain, albeit only realisable with time. If you accept my proposition, I shall cherish the sure satisfaction of having made you an honest business offer, even if circumstances for the moment do not look favourable; and on my very death-bed I shall be conscious that, even if it has not occurred by then, you or yours will get back the capital you have expended with interest, and perhaps with proportionate profit.
All the same, I do not pretend that it is anything other than my personal convenience which is in question. I know better than anyone can tell me, that on your side quite different motives must be at work if you are to enter upon such a speculative transaction, and here I can only assure you that I should know how to assess your acquiescence at its true value—the results of your consent would be very heartening for me. In regard to my future work, I should find myself in the favourable pecuniary position, which lately I supposed (with what silent despair you may imagine!) I should have to create for myself by the proposed American adventure—that is to say, I could lay by for some time all my ensuing profits from the theatres and so assure my position for years to come. But the happiest aspect of the business would arise from the fact that this amenity would spring directly from work to which I should henceforth devote myself, undistracted and undeviating. No other method could mean the same thing to me, and, indeed, I am firmly resolved to accept no further help which does not proceed from my own work; I may tell you here in passing that for some time past I have not accepted the yearly allowance from the Ritters, despite the most touching protests on the part of these noble friends of mine.
Should you propose to accept my offer, I would insist on a legal deed of sale [...]. To establish the price of each score, I would refer to what I received from Härtel's for Tristan. They pay me 200 louis d'or down for the score and assign me a share in the profits up to a further 100 louis d'or from the proceeds, so that in return for permanent surrender of my copyright I would require 300 louis d'or for each score, or preferably, 6000 francs. Accordingly you would have to pay me forthwith for my two finished works, (1) The Rhinegold and (2) The Valkyrie, 12,000 francs, another 6000 francs at the completion of Young Siegfried, and the same sum again when the last of the four pieces is finished.—For the rest, your copyright having been assured, the finished scores should be sent as soon as possible (say after the production of Tristan) to Härtel's for printing and publication. This publication, as you know, matters very much to me, and the fact that it will occupy much time is an additional reason why your acceptance of my offer would be a great convenience to me, since otherwise I should feel I still ought to hesitate before putting the scores in Härtel's hands. It is understood that I would myself undertake the necessary steps with the publishers in your name.
What do you think of this proposal (which to-day I do not wish to regard as a petition)?
When I reflect what sacrifices you have made already to assist me and my work, I cannot but feel almost sure that I am not asking too much, either of your means or your inclinations. Only I might well be doubtful if you have not already acquired a right in my work by your earlier sacrifices and—against this I should indeed have nothing to say, but could only throw myself on your mercy. [...]
Source: Letters of Richard Wagner, Vol. 2, selected and ed. Wilhelm Altmann, trans. M. M. Bozman (J. M. Dent & Sons, 1927), No. 424